Question

A student deposits $150 into a savings account that gains 1.5% interest each year. Which function, f(x), represents the amount in the account after x years if no withdrawals are made?

f(x)=150(0.015)x
f (x) = 150 ( 0.015 ) x
f(x)=150(0.15)x
f (x) = 150 ( 0.15 ) x
f(x)=150(1+0.015)x
f (x) = 150 ( 1 + 0.015 ) x
f(x)=150(1+0.15)x

Answer 1

The correct function that represents the amount in the account after x years is f(x) = 150(1 + 0.015)^x.

Step-by-step explanation:

The correct function that represents the amount in the account after x years is f(x) = 150(1 + 0.015)^x. This function takes into account the initial deposit of $150 and the annual interest rate of 1.5%.

In the formula, the term (1 + 0.015) represents the multiplier for each year of interest, and the exponent x represents the number of years the money is kept in the account.